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Show mm umwcdsiTY wr1 OF Ww . Serials Order Department University of Utah Salt Lake City, Utah 84112 JUW891974' - ... VOLUME 1, NUMBER 15 Meek, former University of Utah head football coach, has joined American Investors Assurance Com--' pany, 1515 South 11th East, as Vice President and Director of Sales. The announcement came from Mr. Frank E. Williams, President of the company, and Mr. John Piercy, Chairman of the Board. According to Mr. Meek, "The decision to remain here was made because our family considers Utah our home." Says Meek, "My family and I have grown very fond of the area, the people, and the friends we have made. After reviewing many offers, I decided to enter into the business world here in Salt Lake City with American Investors Assurance." Bill Utah, like most other Rocky Moun- tain sfates, is in the early phases of an energy boom. The considerable expansion in energy production results from a realization that present and future supplies of energy are inadequate to meet both the present and future demands for energy at the prices that prevailed prior to 1973. The size and location of the energy boom in the state and religion will depend on how Utah, its neighboring states, the federal government, and the major energy companies assess the economic realities of the "Energy Crisis" and choose to deal with the constraints to expanded energy production. While there has been muco discussion of the American Investors Assurance, recently merged with Western Alliance, was established in 1950, marking 24 years in the life and health insurance field in Salt Lake City. The Company is presently 4th largest in Bill Meek State. During that time, 22 of his players were selected to All WAC teams. He has been named Western Athletic Conference "Coach of the Year" and three times was selected to coach the West team in tne annual East-WeShrine Game. In his 19 years as head coach, he established a record of At the age of 29, he was named head coach at Kansas State University, one of the youngest in the school's history. He held other head coaching positions at Houston University and Southern Methodist University, as well as spending five years in the professional ranks with Denver and Dallas. A native of Birmingham, Alabama, Bill and his wife Beverly have four children; Philip, Gary, Forrest Marie and Christina. st 97-88-- 7. Supreme Court Decisions MONDAY, JULY 22, 1974 A Perspective on the Outlook for Energy Production in Utah Vice-Preside- nt 42-1- .' : SALT LAKE CITY, UTAH New of American Investors Assurance Company the state, with current assets at approximately $10,000,000.00. Prior to joining American Investors Assurance, Coach Meek headed the University of Utah football team for six years, posting a Western Athletic for a .621 Conference mark of 4 Arizona to second only percentage, - issues related to energy development such as water, manpower, tran- sportation facilities, capital requirements and the environmental impact, there is no overall energy policy; nor is it possible to detect that the basic policy issues are being adequately resolved. There are demands for independent studies of oil shale, solar energy, coal for gasification; but little recognition that Utah, like the nation, cannot make intelligent policy on a piecemeal and fragmented basis. Intelligent policies and programs will most likely emerge from a total review of all energy potentials within the state and the region. The supplies of water, manpower, and the facilities for production and transportation are limited, and hard choices must be made to pursue those developments which bring the greatest benefit to the state and the nation. Furthermore, the impact of increasing energy production on other opportunities such as recreation and This column of questions and answers on' federal tax matters is tourism and agriculture industries must be determined. provided by the local office of the U.S. Where do Utah's greatest opInternal Revenue Service and is lie in coal, oil, natural portunities published as a public service to taxoil shale, tar sands, geothermal, gas, payers. The column answers questions or solar energy? How serious are the most frequently ashed by taxpayers. constraints to expanded energy Q. I have a joint bank account with my production? Can these questions be of answered without a careful review of son. Are we each taxed on one-hathe interest received? the broader questions of economic A. No. You are taxed on the interest in growth and development in Utah, or at a careful policy dealing with all proportion to the amount you each least, natural resources? the state's contributed to the joint account. For if all the example, you contributed Utah, like its neighboring states, money in the account, you would be faces sizeable and extended developtaxed on all of the interest. ment of energy resources over the next decade. For Utah, expanded energy Q. My mother lives with us. Her income consists of tax-fre- e social production could mean five to security benefits and a small pension. increases in employment and population in some rural counties, the Can I claim her as a dependent? of the carefully studied A. Yes. In general, you can claim your impact limited efforts are currently although mother as a dependent if she had gross However, the nature of the underway. income of less then $750 boom, its requirements for energy income, such as social security resources in men, materials, and benefits, is not included in the $750 capital is beyond anything the state gross income test; and you furnished has known except for the World War more than half of her total support. boom. The major growth will occur II For more information, see IRS in rural areas where it is most needed, Publication 501, "Your Exemptions also where the state and its combut and Exemptions for Dependents." It's munities are least prepared to acavailable free from your IRS office. commodate the growth successfully. Q. After receiving $10,000 under an educational loan program to go to medical school, I agreed to practice medicine fon five years in rural areas h of the state. As a result, each year Am I of the loan is cancelled. Twenty-tw- o taxed on this amount? Japanese citizens from Salt Lake's Sister City, Matsumoto, A. Yes. If any part of the loan is canarrive here Monday, July 22 for a celled in a particular year, that amount will four-dagoodwill visit. Matsumoto must be reported as income for the Matsumi Fukasawa will lead Mayor year. the group. Their scheduled arrival is 1:05 p.m. Q. I work as a waiter. Do all my tips Airlines Flight 406) and it ' (Western have to be reported to my employer? will be greeted by Mayor E.J. "Jake" A. No. If you receive less than $20 in Garn and the Salt Lake Area Chamber tips in the course of your work for one of Commerce goodwill ambassadors employer during the month, you are "The Salt Shakers." Following the airnot required to report that amount to port greeting, the Japanese guests and that employer, but you may do so if hosting Salt Lake families will hold a you wish. However, you must include reception at the Chamber of Comthis amount in income on your tax merce offices. Mayor Garn and Mayor return. If you receive tips of $20 or Fukasawa will exchange gifts. more in a month while working for any The Japanese entourage will spend one employer, you must report the Tuesday, July 23 touring Salt Lake total amount of those tips to that em- City, visiting Snowbird, participate in ployer on or before the 10th day of the a tree planting ceremony at the Infollowing month. This can be done on ternational Peace Gardens in Jordan IRS Form 4070, "Employee's Report Park, be hosted by the Salt Lake on Tips," available from any IRS Japanese League for dinner and attend the Days of '47 Rodeo. Taxpayers Ask IRS lf ten-fol- d SEE DETAILS PAGE 7 New Promotions at Mountain Fuel Supply - The SALT LAKE CITY Coleman Clair and of F. promotions John Crawford, Jr., vice presidents of Mountain Fuel Supply Company, to the positions of senior vice president, were approved Monday by the Com: pany's board of directors and announced by B.Z. Kastler, president. Mr. Coleman has served as vice president, distribution, since November 1, 1968, and will continue to have responsibility for distribution as well as the operation of the Company's division offices. A native of Ogden and a graduate of the University of Utah, has been an employee of Mountain Fuel since 1954. Mr. Crawford served as secretary and general counsel for Mountain Fuel from October 1, 1968, until January 1, 1972, when he was promoted to vice president, secretary and general counsel. On August 15, 1972, he was named financial vice president and treasurer. He will continue to have responsibility for the Company's financial operations, including controller and treasurer functions, budget, electronic data processing, and administration. A native of Spring Canyon, Carbon County, and a graduate of the University of Utah, Mr. Crawford has been a Mountain Fuel employee since 1957. Ground Breaking For Planned Community W. South Jordan Mayor Orrin Beckstead will be among thosu of- ficiating at' the groundbreaking ceremonies July 27 at Glenmoor $50 million comVillage, the munity rising in South Jordan. Ceremonies at the site will begin at 1:30 p.m. and will feature the planting of a Scotch Pine by Mayor Beckstead. Community leaders from Murray, Midvale, Riverton, Sandy, South Salt Lake, West Jordan, Alta, and Salt Lake City have been invited to attend. "Glenmoor Village is going to be one of the most, significant additions ever made to the South Jordan community," said Mayor Beckstead. "Glenmoor Village will provide ' housing for this rapidly growing area enough for more than 5,000 residents when it is completed in 1978," he said. Grant C. Afflect, president of Afco , Development Corp., builders of the new community, said Glenmoor Village, located at 9400 South and 4000 West, is being development around an golf course, 9 holes of the course already completed. "We belive Glenmoor Village can offer tha, plus luxury, recreation and beauty. Glenmoor Village will be one of the finest recreation communities in Utah," he said. "There has already been a tremendous reception for the planned community approximately $1,000,000 in sales have been made in the past 90 days," he said. 547-acr- e, 18-ho- le (tax-exem- There are a great many studies underway to look at environmental impact or feasibility on a piecemeal, project-bproject basis. There are no known studies, comprehensive in nature, which examine the total energy picture for Utah or its neighboring states and which seek to examine how each project or resource will affect alternative developments, and where all the requirements and impacts are aggregated. Such studies, if they occur, will undoubtedly be funded by the federal government and the results will likely be bent somehwat toward federal concerns.State government in Utah should take the leadership in working with interested citizens, the universities and energy companies to examine fully Utah's energy potential and to prepare plans and programs necessary to facilitate the orderly and compatible development of energy resources. y -- In This Issue: 2 3 3 3 4 4 4 Legals Probate New Partnerships Suits Small Claims i Divorces Marriage Licenses ...... .4 Births 5 Bountiful Power 6 Bankruptcies New County Bldg. Permits . . 6 6 Water Service 7 Court Decisions ... Supreme Third District Court .9 9 New Corporations Uniform Commercial 10 Code Filings 10 Sale Bankruptcy 12 Trust Deeds 13 Quit Claim Deeds Second Mortgages .13 13 Liens 13 Release of Mortgages West Jordan Bldg. Permits 13 14 Mortgages 14 Business Licenses .... City 14 Tax Liens 14 Warranty Deeds ....... Japanese Citizens Visit one-fift- Salt Lake City y On Wednesday, July 24th, the Matsumoto citizens will view the Days of $47 Parade and attend a Promised Valley Theatre production. Their concluding day will include a meeting with Gov. Calvin L. Rampton and a tour of Temple Square. They depart Salt Lake For Las Vegas in the early evening; The Japanese group includes: dty officials, businessmen and their families, a champion wrestler and a prize-winnin- g floral arranger. Traveling with the visitors will be a movie crew which will film all of their Salt Lake activities. Matsumoto, Salt Lake's Sister City, is located approximately 90 miles west of Tokyo and has a population of over 100,000. Exchanges between the two cities have occured over the years principally because of contacts maintained by former University of Utah president A. Ray Olpin and a Salt Lake attorney, Ray Uno. |